This week at REI we have a fantastic speaker lined up. Every year at Christmas we have our friend, real estate guru, Keith Boley, fly in from California to come speak with us.

He has had some outstanding speeches in the past and I expect no less this time around. Keith really knows his stuff and it’s great for us to hear the California way of doing things which is a little different than what we do.

The topic this week that Keith will be teaching is how to research ANY market in 15 minutes and then how to get all of your leads to come to you every day. He is saying this is going to be a great eye opener for most of us so I can’t wait to hear it.

Code enforcer tells person they are giving criminal violations to that they will Kick Their Teeth In. Nice and professional code officials we have here in Roanoke Virginia. Little Bully code enforcer. The city should be ashamed of this.

It’s guaranteed to be a fun meeting this week at REI so mark your calendar. REI of Virginia is in the spirit of giving, so those who attend, are going to be the ones who will be getting.

Yes, it is true. We don’t make much money with these cheap dues we charge but we also haven’t spent much money over the years so were going to unload a little and give some back to you.

1. First thing we’re going to do is buy you dinner. 2. Along with dinner a couple drinks from the bar will be on our tab. 3. And we have a whole bunch of gifts for everyone ranging from gift certificates to Lowe’s, Home Depot, Sheetz, and various restaurants. The plans are that no one leaves without a gift in their hands. This is going to be an Entitlement Party where even the losers get rewarded! That is as long as we don’t get a lot more people than we are planning.

So we’re going to wine and dine you... And then we’re going to educate you. And the value of the education we’re getting ready to give you at this special event is going to far exceed any kind of money we could spend on you. This hands on style education is going to make you a very wealthy individual if you listen and do as you will be taught this week. I’ve been using this method since I started. It has worked for me, it has worked for Andy, it has worked for Dan, it has worked for EVERY SINGLE property owner I know that has millions of dollars in their portfolio. And I can promise you that we did not become successful by dumb luck. You’re getting ready to learn one of our Secrets that Works, and we’re going to prove it works.

This powerful method is hands down the EASIEST way to obtain properties far below value. There are a lot of ways of finding extremely discounted properties but most of them take a lot of work. This one doesn’t! All it takes is some time and patience. Slowly replicate this method 3-5 times a year for 5 years and you will be a very wealthy individual. I promise you that.

You think you can handle that? Just 5 years of part time work and you can retire… You can't put a price on the value of what you’re going to learn at this meeting. AND you’re getting it for free. Not only are you getting it for free but we’re going to buy you dinner and drinks. AND we’re going to give you a prize for being a Special Person. AND we’re not going to try to sell you anything at the end!

WOW, What guru class will not try to empty your pockets and your bank account and get you to borrow money to pay for their valuable information? I can tell you what guru… The gurus who have been there and done that at your State REI Group. That’s where you learn how to do this stuff. Not from some clown who “SAYS" that they became real estate millionaires. This is the real deal guys and gals.

Big things are happening right now in REI. We’re going to give you a real world example that our group just did on buying property this way. And this purchase that REI is making is going to give opportunities to all of the members in our group at every level of real estate. From the beginners to the advanced.

This is how it goes down. All 2016 paid members get in free. You can also bring along your spouse free as well. If you haven’t signed up for our meetings yet, you are still welcome. For $100 you can participate in our Christmas party and get this valuable information that we’re going to give the group. That $100 will also buy you 2017 dues for our meetings and access to next years Christmas party as well. What an unbeatable deal!

So mark the calendar and cancel your plans as the REI of Virginia, 6:30 pm, Tuesday meeting, at Corned Beef & Co, Downtown Roanoke VA, is where you’re going to need to be. Beginners and Experienced welcome.

This week we have another fun meeting lined up that will help you learn how your tenants can get their rental nice and cozy for the winter by using the TAP Wetherization program. As you may know, most of these old houses in the city aren’t well insulated and this program does a lot to help keep their utility bills low so your tenants can afford their rent…

Our special guest speaker will be Rick Sheets with TAP. Rick will teach us the ins and outs of the program.

This proposed rule would require each public housing agency (PHA) administering public housing to implement a smoke-free policy. Specifically, this rule proposes that no later than 18 months from the effective date of the final rule, each PHA must implement a policy prohibiting lit tobacco products in all living units, indoor common areas in public housing, and in PHA administrative office buildings (in brief, a smoke-free policy for all public housing indoor areas). The smoke-free policy must also extend to all outdoor areas up to 25 feet from the housing and administrative office buildings. HUD proposes implementation of smoke-free public housing to improve indoor air quality in the housing, benefit the health of public housing residents and PHA staff, reduce the risk of catastrophic fires, and lower overall maintenance costs.http://portal.hud.gov/hudportal/HUD?src=/program_offices/healthy_homes/smokefree

Lets get right to it without any fluff. By law you are supposed to give a tenant a taken with reservation letter or receipt within 5 days of any payment you accept that is not a full payment of what is owed. Yes that is a MAJOR pain in the you know what as some tenants like to make several payments of 150 here and 200 there. Each and every payment made has to have a letter or written receipt saying “taken with reservation” on it.

However now with the new law we are allowed to notify the resident that all future payments will be taken with reservation in our pay or quit notices eliminating that burdensome task. You may need a copy of this law with you though as this is not something that Roanoke landlords have taken advantage of therefore it may be something that the judges are unaware of.

Here’s the relevant section of the Virginia Residential Landlord Tenant Act. Pay attention to the words written termination notice which is a 5 day pay or quit notice:

§ 55-248.34:1. Landlord's acceptance of rent with reservation.
A. Provided the landlord has given written notice to the tenant that the rent will be accepted with
reservation, the landlord may accept full or partial payment of all rent and receive an order of possession
from a court of competent jurisdiction pursuant to an unlawful detainer action filed under Chapter 13 (§
8.01-374 et seq.) of Title 8.01 and proceed with eviction under § 55-248.38:2. Such notice shall be
included in a written termination notice given by the landlord to the tenant in accordance with § 55-
248.31 or in a separate written notice given by the landlord to the tenant within five business days of
receipt of the rent. Unless the landlord has given such notice in a termination notice in accordance with §
55-248.31, the landlord shall continue to give a separate written notice to the tenant within five business
days of receipt of the rent that the landlord continues to accept the rent with reservation in accordance
with this section until such time as the violation alleged in the termination notice has been remedied or
the matter has been adjudicated in a court of competent jurisdiction. If the dwelling unit is a public
housing unit or other housing unit subject to regulation by the Department of Housing and Urban
Development, the landlord shall be deemed to have accepted rent with reservation pursuant to this
subsection if the landlord gives the tenant the written notice required herein for the portion of the rent
paid by the tenant.

Your 5 Day Notice Should Include Something Along These Lines:Any and all payments made towards rent and all other fees and costs, will be taken with reservation, and will not constitute a waiver of the landlord’s right to evict you from the dwelling unit. You must notify them also that this will not constitute a waiver of your rights to evict them as there is another code section below that includes that, as required in a written notice, from the point where you have already been granted possession and are in the process of waiting for the deputy to show up for an official eviction.

B. Subsequent to the entry of an order of possession by a court of competent jurisdiction but prior to
eviction pursuant to § 55-248.38:2, the landlord may accept all amounts owed to the landlord by the
tenant, including full payment of any money judgment, award of attorney fees and court costs, and all
subsequent rents that may be paid prior to eviction, and proceed with eviction provided that the landlord
has given the tenant written notice that any such payment would be accepted with reservation and would
not constitute a waiver of the landlord's right to evict the tenant from the dwelling unit. However, if a
landlord enters into a new written rental agreement with the tenant prior to eviction, an order of
possession obtained prior to the entry of such new rental agreement is not enforceable. Such notice shall
be given in a separate written notice given by the landlord within five business days of receipt of payment
of such money judgment, attorney fees and court costs, and all subsequent rents that may be paid prior
to eviction. If the dwelling unit is a public housing unit or other housing unit subject to regulation by the
Department of Housing and Urban Development, the landlord shall be deemed to have accepted rent
with reservation pursuant to this subsection if the landlord gives the tenant the written notice required
herein for the portion of the rent paid by the tenant. Writs of possession in cases of unlawful entry and
detainer are otherwise subject to § 8.01-471.

Do you have taxable income from Rental Property that you will have to pay taxes on this year? If so, come to our meeting this Tuesday to hear about how you can offset that income with an income producing asset.

Yes, you read that right. Do I have your attention now? How about an 8% tax free monthly cash flow in addition! Our Strategic Wealth partner, J. Andy Ingram, is bringing us another unique strategy to help you keep more of your income and help you produce more of it with value added tax benefits.

Andy will be bringing in the VP of San Francisco based ATEL Capital Group, Brian Sumner. We will be discussing how you can uniquely re-position rental income into another real income producing asset that offers tax advantaged cash flows, passive income offsets and ownership of an investment that is NOT correlated to traditional equities markets. This unique strategy also provides inflation and interest rate hedging capabilities with a focus of Principal Protection.

This is what REI of Virginia is all about. Teaching you how to both make and save money in our industry. How to operate your business efficiently with the least amount of headaches.

Don’t miss this meeting guys and gals.

Also, please note that there is only 2.5 weeks left to get into the Industrial Property trust that was presented last week before it closes.